Since GSF hit the 52 week high of 30.69, it has been steadily declining. The current bounce is still within the channel lines. Will it break out? Not sure. It’s a short candidate when reaching the top channel line if overall market is not in a big swing up.
Looking at NE, it’s right at the top channel line, it’s over bought, but it has an increasing volume while going up. Let’s wait for a while to see if it breaks out or down.
MSFT closed at 27.41 with heavy volume. It barely broke out the resistence, but the long candle looks less bullish. Obviously, a lot of people are selling into the pop and the buying demand could not hold up in the close. If tomorrow it has a follow up, it will be very bullish.
You can go long at the breakout or wait for the handle in a typical cup-and-handle case, but the pullback may not happen if it is very strong breakout.
MSFT closed at 27.41 with heavy volume. It barely broke out the resistence, but the long candle looks less bullish. Obviously, a lot of people are selling into the pop and the buying demand could not hold up in the close. If tomorrow it has a follow up, it will be very bullish.
You can go long at the breakout or wait for the handle in a typical cup-and-handle case, but the pullback may not happen if it is very strong breakout.
LOW is once again at its downtrend line. My bias is on the short side and target is 52. I would bail out at 54.5 if the volume is higher than the average.
LOW is once again at its downtrend line. My bias is on the short side and target is 52. I would bail out at 54.5 if the volume is higher than the average.